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Banks Accused of Illegal Gambling Involvement

16 July 2004

PHILIPPINES – As reported by the (Philippines) Nation: "Banks have also gotten involved in the widespread illegal gambling in schools.

"In a recent press conference, Justice Secretary Merceditas Gutierrez said there are banks who act as financiers of these activities.

"Ms. Gutierrez said the problem in sports betting in schools has already worsened. In fact, there was a student who was forced to flee the country for fear as he was unable to pay his gambling debts.

"…According to the Philippine Center for Investigative Journalism, sports betting, specifically on results of National Basketball Association games, had caught on like wildfire in many private schools, leaving some students hooked on gambling deep in debt…"

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